Random Personal Financial Thoughts

I've been MIA for most of the month on this blog due to a busy schedule, but personal financial concerns are still (let's be honest ALWAYS) on my mind:

• I’m thinking about cancelling my gym membership because I use it so sporadically. I do enjoy the amenities of a gym, but I can find alternative ways to exercise for less money. For example, I recently discovered that there is a public swimming pool walking distance from where I live that is free for DC residents! That $45 per month could be padding my emergency fund instead of paying for my (infrequently used) gym membership.
• I plan on making July a low-spend month by limiting my travel and extraneous spending. I’ll also try to limit my restaurant/take-out meals and take advantage of free events that are going on in the city instead.
• I purchased one baby shower gift this month and have to purchase two more baby shower gifts within the next few days. Buying baby shower gifts a few times a year for close friends and family members comes with the territory of being a 20-something female, but they aren’t usually clustered so closely to the same time period for me. I need to replenish my gift fund for unexpected gift giving so I’m better prepared.
• For me personally, picking up a new book for my Metro commute is just as fun as buying something new. The D.C. Public Library is such a great resource! As soon as I have free time, I'll pick up some French language software, since I’m still saving up for Rosetta Stone.
• It’s time to start thinking about an aggressive repayment plan for my student loans since I will enter my last semester of grad school in the fall and my in-school loan deferment will end. I’m thinking of using an approximation of the ‘debt snow ball method’ and paying them off from smallest balance to largest balance.
• My Roth IRA and 403 B accounts seem to be increasing so slowly. Meeting my goal of having as much money in my retirement accounts as I make on my (current) annual salary by age 30 seems kind of lofty at the moment. But I believe it’s still attainable.

What random personal financial thoughts do you have on your mind today?

Hesitations in paying for certain things

Attending a recent club party made me realize that at the 'advanced' age of 26, the idea of going to a (dance) club doesn't make me cringe yet, but the idea of paying a lot for one does. I honestly love (almost) any occasion that causes for me to dress up, but paying a lot to 'party' sucks all of the fun out of it for me. My behavior is very different from what I exhibited during and immediately after I graduated from college. Washington, DC, the city I've lived in since graduating is a 'college' town and several of the notable dance clubs here throw huge parties that some celebrities and notable sports athletes attend when they are in town. But attending these parties comes at a steep (to me) price unless you are 'connected' with someone affiliated with the club, are on someone's guest list or take advantage of the incentive many clubs offer of ladies to enter for free or cheaper before a certain time (usually 11:00 p.m.). I think guys get usually get a cheaper price as well, but I'm not sure if it's free.

During my college years I remember spending as much as $40 to enter a club during a special occasions like homecoming season amongst local colleges or graduation season. That entrance fee doesn't even cover your drinks. The fact that I always drink minimal alcohol when I socialize probably meant that I spent less than most but that's still alot! I enjoyed that time in my life, and don't really regret spending that money, because it came with the experience of being that age. But now that I am my mid-twenties and not my early twenties, my priorities have changed and I'm not interested in paying that much money for a club. I'd rather save it or if I spend it, I'd rather have a nice meal, go to a concert or even get a manicure/pedicure than pay for a club. I think most of my friends that went to my university would agree but you couldn't tell us going into whatever parties we paid all of that money to attend wasn't 'important' back then.

Is there anything you hesitant (or unwilling) to pay for as you get older?

Summer Travel Plans

I don't plan to do much traveling this summer. I'm planning to take two classes this summer for grad school and am considering taking another non-grad school related class that I think might give me a few useful skills I can use on my job. Because I intend to be pretty busy, my traveling will be relegated to weekends. Here are my tentative travel plans:

1. Visit family members. I've already purchased airfare to visit my Dad who lives in another state and may also go to at least one family reunion in a near-by city.
2. Go to a (relatively) near-by beach. I'm hoping to take at least one trip to a near-by beach either in Delaware, Virginia or New Jersey.
3. Day trip to NYC to visit some musuems or other sightseeing. I've already been to NYC a few times this year to see an excellent show and do some shopping/thrifting, but I'd like to take at least one day-trip via Megabus to see some cultural sights and museums that I have never seen before like The Met and MOMA.
4. 'Staycation'. I'd like to take advantage of some of the great things going on in my city this summer as well and deviate from my usual routine. I still have to do some research on what I'd do on this staycation.

I still have to set an exact amount I plan to spend on travel this summer, but I don't plan to spend as much as I have during past summers because they included more air travel and hotel stays.

What are your summer travel plans?

Summer Barbeque Options for Vegetarians

Though the weather has been finicky recently, summer is right around the corner and I am looking forward to attending barbeques once the weather warms up for good in the Mid-Atlantic region. But I don’t want my recent commitment to vegetarianism to put a crimp on my summer barbeque food options. I also don’t want to rely too heavily on bread to fill up which wouldn’t be friendly to my waistline in excess. Here are a few recipe items I’ve found that are also relatively inexpensive:

• Grilled Asparagus
• Spicy Black Bean Burgers
• Grilled Portabella Mushrooms
• Vegetarian Potato Salad
• "Chicken" Kabobs

Other good vegetarian friendly options I plan to try include:

• Roasted or Grilled Vegetables
• Fruit Salad
• Mixed Green Salad
• Grilled Corn
• Gazpacho Soup (with Mango or Watermelon)

Do you have any vegetarian-friendly summer dishes you’d like to try this year?

Interesting Personal Finance Articles

Here are few recent news articles that I found interesting:

Networth Obsession - I like to see progress in the positive direction on my networth like anyone else, but I don't see the point in getting too 'caught' up in the numbers.

Thinking Outside Rails and Runways, and Taking the Bus - As a frequent Megabus rider, I'm not surprised that bus-riding is catching on among younger (and older) adults. The lower cost of bus travel vs. Amtrak makes traveling along the East coast much easier for me personally.

Credit or Debit? Which Card You Should Use, and When - This is a question I often ask myself when making larger purchases or booking hotel rooms.

Generation Y's Steep Financial Hurdles: Huge Debt, No Savings - Yet another 'downer' article about my generation. This article was even more motivation for me to get my financial act together. There are many Generation Y'ers out there that are fiscally responsible. I chat with quite a few of them on the internet and have met some of them at the two blogger happy hours I've gone to in DC. I hope to meet more like-minded people my age in the future.

Exploiting the New Student-Loan Rules - I don't think I need to take advantage of this option at this time, but it's good to know it exists.

Have any recent news stories or (blog posts) caught your eye recently